Preparing Form 1041 And Estate Planning - After TCJA And CARES Act

Tax compliance issues for fiduciary entities are sometimes confusing to practitioners due to the fact that many lack experience in this area. The preparation of The US Income Tax Return for Estates & Trusts (Form 1041) is an art that requires juggling oft-competing obligations between the tax authorities, personal representatives and beneficiaries. This lecture includes Form 1041 Income Tax updates, the new proposed regulations under §67(e); new cases of interest; current planning with IRAs and the SECURE Act; and planning in rising interest rates.

• Updated information on Form 1041 and the distribution deduction
• Tax and financial planning for estates and trusts
• Discussion of how to minimize the high tax brackets
• Effective use of tax elections and allocations
• New final regulations under §67(e)
• Final regulations for termination
• Distributable net income (DNI) and distributions
• Current planning opportunities; income tax traps
• Business entities and passive activities
• How to avoid tax traps
• Business accounting and tax provisions for S corporations and partnerships

Credits and Other information:

• Recommended CPE credit – 2.0
  
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• NASBA Sponsor: 146439
  
• IRS Course ID: PJGWS-T-00087-24-O
• Attendance Requirement:  Yes
• Session Duration: 2 Hours
• Case Studies and Live Q&A session with speaker
  
• PowerPoint presentation for reference

Who Will Benefit:

• CPA
  
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
  
• Financial planners